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3 day high/low, S/R at higher timeframe
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Old 08-13-2009, 06:07 AM
jaime jaime is offline
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Default 3 day high/low, S/R at higher timeframe

Ken,

I hope you can add this on the next monthly member videos:

You mentioned that we must still analyze day trades on a multiple time frame analysis (e.g. daily, 60mn and 15/30mn).

Can you please discuss a little on what would stop us from entering on a 15/30mn 3 day high/low with ADX>30 due to a reason coming from the chart of a higher time frame?


Thanks.

Jaime
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Old 08-13-2009, 10:43 AM
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Ken Ken is offline
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hi - as I mentioned in the videos, the main reason to avoid an entry based on longer time frame chart is if it's approaching recent resistance levels when looking at multiple timeframes... eg if on a 7-day chart it looks like a breakout, but on the multi-month chart there's a previous horizontal s/r level/cup pattern, then it's best to be cautious.
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